AFP Corporate Cash Indicators®



October 2017 Results:

Third quarter results of AFP’s Corporate Cash Indicators® (CCI) report that the pace at which organizations have accumulated cash and short-term investments over the past quarter shot to its highest reading since the index debuted in January 2011. Entering the third quarter, organizations indicated they would accumulate cash, which they did, but once again did so at a much higher rate than anticipated. Treasury and finance professionals anticipate that cash accumulation will continue to accelerate through the fall.

Download the Results

AFP Corporate Cash IndicatorsOct 17July 17Apr 17Jan 17
Change in Cash Holdings (Over the Past Quarter)+25+16+15+16
Change in Cash Holdings (Over the Past Year)+20+18+16+16
Expected Change in Cash Holdings (During Current Quarter)+13+8+3-7


Press Release:

Study U.S. Firms Are Worried About the Economy Building Reserves at a Record Pace

How to read the results:

The indicators measure recent and anticipated changes in corporate cash balances by calculating the percentage of survey respondents reporting an increase (or expected increase) in cash holdings minus the percentage reporting a decline (or expected decline). Declining indicators are indicative of increasingly confident businesses. Conversely, rising indicators suggest growing pessimism.  

Why you should care about corporate cash holdings and the AFP Corporate Cash Indicators?

The reason is simple: all other things held constant, optimistic companies are more likely to deploy their cash holdings. Confident companies use their cash to make growth-orientated expenditures (e.g., increased capital expenditures, merger & acquisitions and hiring) and to increase dividend payouts and share repurchases. Conversely, pessimistic executives are likely to retain their cash holdings

The AFP Corporate Cash Indicators (AFP CCI), provide treasury and finance professionals, policymakers and market analysts with timely data on a determinant of economic activity: corporate cash levels. 

About the AFP Corporate Cash Indicators

AFP Corporate Cash Indicators is a trademark of the Association for Financial Professionals. All AFP Corporate Cash Indicators® survey questions, data and reports are the copyrights of the Association for Financial Professionals, and all rights are reserved. For information about including the AFP CCI on your site, please contact